Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) announced that exploration has begun at its 100% owned Gander North property in Newfoundland, with initial results from surface samples collected to date that returned values of up to 885 parts per billion (ppb) gold from sub cropping quartz veins, up to 0.15% copper, and up to 26.8 grams per tonne (g/t) silver from the quartz float.
The Canadian mineral exploration company said work on the project began in late June 2022, with initial prospecting and till sampling, and preliminary efforts have identified numerous evidence for quartz veins, including subcrop and float.
“We now have multiple geophysical targets to go after that have been identified - with the help of publicly available data sets, we have now submitted our drill plan application and are awaiting final approval for our inaugural drill campaign,” Falcon Gold CEO Karim Rayani said in a statement.
READ: Falcon Gold says it is positioned for success as potential discoveries are made across its portfolio of projects
“We control a sizeable area of influence totaling 108,000 hectares when combining this with our JV partner Marvel Discovery at Baie Verte and Golden Brook the number jumps to 150,000 hectares making us one of the dominant players on the island,” Rayani added.
Falcon Gold noted that multiple geophysical targets were identified over the project area earlier this year through review of publicly available datasets, and these will be the focus of ongoing reconnaissance.
The company added that detailed work, including systematic sampling and geological mapping, will begin this fall to better define targets in advance of drilling.
Vancouver-based Falcon Gold's flagship project, the Central Canada gold mine, is approximately 20 kilometres southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold mineral reserves, and 2.3 million ounces of measured and indicated mineral resources. The company holds nine additional projects.
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